About Sleep Testing Services
Sleep testing service, a medical test which is used to monitor and diagnose sleeping disorders. These test records various functionality of human body such as oxygen level in blood, breathing, brain waves, heart rate and movement of leg & eye. On the other hand, sleep testing service helps to diagnose numerous disorders includes sleep behavior disorder, unexplained chronic insomnia, narcolepsy, periodic limb movement disorder, REM, sleep apnea and many more.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.5% |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Sleep Testing Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Midwest Sleep Diagnostics, Inc. (United States), SleepMed (United States), SOVA Sleep Services Inc. (United States), Medical Service Company (United States), Sleep Services Australia (Australia), BresoTec Inc. (Canada), Genesis SleepCare (Australia), St. Luke’s Center of Sleep Medicine (United States), Total Sleep Holdings Plc. (United States) and Atrium Health (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Sleep Testing Services market by , Application (In-Lab Sleep Testing and Home Sleep Testing) and Region.
On the basis of geography, the market of Sleep Testing Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Service Type, the sub-segment i.e. Diagnostic Services will boost the Sleep Testing Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Sleep Testing Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Lower Cost of Home Sleep Testing services and Easy Availability of Services in Developed Countries and Increasing Adoption of Cost-Effective and Less Time-Consuming Services
Market Growth Drivers:
Increasing Prevalence of Sleep Disorders and Favorable Reimbursement Policies, Growing Awareness Regarding Home Based Sleep Testing and The Growth of Medical Tourism in Asia Pacific Regions
Challenges:
High Cost of Full PSG Sleep Testing Services
Restraints:
Lack of Awareness among Consumer in Developing Economies
Opportunities:
Higher Adoption Rate and Premium Pricing of Services Across the World, Surging Number of Private Insurance Services Providers and The Growth of Home Healthcare Facility in Both Developing and Developed Economies
Market Leaders and their expansionary development strategies
In June 2023, Sleep technology company REMware signed an agreement with Side Health, a national chronic care management company, to provide sleep apnea testing services to meet the growing demand to detect and treat undiagnosed sleep apnea among their patients.
In September 2022, Onera Health announced the official launch of its ground-breaking solution to diagnose sleep disorders in Europe. The service is based on the companies’ CE-marked and FDA-cleared Onera Sleep Test System and the Onera Digital Health Platform. It allows sleep professionals to conduct sleep studies at the comfort of the patients’ home while maintaining clinical-grade quality as with in-lab diagnostics.
Key Target Audience
Sleep Testing Services Providers, Hospitals/Clinics and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.